I am a 22 year old junior college student from Texas. Last semester I scored a summer internship with one of the best companies in Texas and this in turn finally brought up a good reason to get my first car (I've been using the bus for the past 2-3 years for mainly everything).
Now the thing is, I have no idea how to go about this and was wondering if anyone in here specializes in this or went through this same situation.
First of, I am going to need a loan since I barely make anything (to get a car without help) at my job on campus and take 18 hours of classes. I tried getting a second job and it just didn't work for me. I don't have anymore tuition payments (thank god for scholarships) so I get about $200-$250 every two weeks. That's really the base of my income.
As for credit cards, I only have one with about $850 on it at a 20% (ew) APR. I make the payments every month after a brief stint of nearly being homeless and missing a couple payments. I have about $350 in my bank account at the moment. In the world of buying/renting a used car? What would be feasible to ask from my bank, Bank of America. What are also somethings to say/do to get the best offer. This is really something I have no experience and would rather not get dicked out of a deal because of my ignorance.
Considering I have a good source of income in the projected future, do I have a chance of getting something. I was thinking of asking for about $3k-$4k. Too much, too little? I was trying to go for a car from 2003-2005. My mother has lovely credit so I don't think she would be much of a help as a co-signer to the loan. Would it be better to just buy a used one right out rather than make payments at a dealership?
Projected income from internship:
$19 an hour at about 30 hours a week. Lasts about Two and half months, starting from May 31st, 2010 to mid-August.
$200-$250 every two weeks
Just one (with BoA) with $850 on it at ~20% APR. I make payments with no problem.
Update: Well I applied online to get some offers from BoA and they denied me a loan opportunity. Although with my current income it makes me seem like a scumbag but the internship will really boost things. Anyway of salvaging this?
notMordecai fucked around with this message at 15:49 on Feb 18, 2010
|# ¿ Feb 18, 2010 14:41|
|# ¿ Sep 22, 2021 05:19|
Get on craigslist or autotrader and get yourself a $1000 beater.
Figured! Wish me luck.
This is kind of important because if I can't get this car I will have to drop out of this internship.
|# ¿ Feb 18, 2010 22:30|